September 28, 2016 4:06 AM ET

IT Services

Company Overview of JetPay Corporation

Company Overview

JetPay Corporation provides debit and credit card processing, payroll, human capital management (HCM) and card services to businesses and their employees in the United States. The company operates through two segments, JetPay Payment Processing and JetPay HR and Payroll. It offers debit and credit processing and automated clearing house payment services to small and medium-sized businesses, as well as to large entities, who processes Internet transactions and recurring billings; and HCM services including, payroll, tax filing, time and attendance, HR, and other related services to small and medium-sized employers. The company also provides transaction processing services, such as end-to-end ...

1175 Lancaster Avenue

Suite 200

Berwyn, PA 19312

United States

163 Employees

Phone:

484-324-7980

Key Executives for JetPay Corporation

Founder and Chairman
Age: 78
Total Annual Compensation: $300.0K
Chief Financial Officer
Age: 56
Total Annual Compensation: $253.3K
Vice Chairman, Chief Administrative Officer and Corporate Secretary
Age: 63
Total Annual Compensation: $258.3K
Compensation as of Fiscal Year 2015.

JetPay Corporation Key Developments

JetPay Corporation Appoints Michael Collester as Chief Operating Officer

JetPay Corporation announced that Michael Collester has been named Chief Operating Officer. Prior to being named COO, Mr. Collester served as the President of JetPay'sLanghorne, PA location. His responsibilities encompassed overseeing customer service, technical initiatives, finance, and sales management. Mr. Collester has more than 25 years of executive experience in the strategic partner and merchant services space. In 2004, Mr. Collester formed ACI Merchant Systems, LLC, which was acquired by JetPay in November 2014 and currently focuses on financial institution and other strategic partnerships.

JetPay Corporation Presents at Liolios 5th Annual Gateway Conference, Sep-08-2016 03:00 PM

JetPay Corporation Presents at Liolios 5th Annual Gateway Conference, Sep-08-2016 03:00 PM. Venue: The Four Seasons Hotel, San Francisco, California, United States. Speakers: Peter B. Davidson, Vice Chairman, Chief Administrative Officer and Corporate Secretary.

JetPay Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

JetPay Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, Revenues were $12.2 million for the three months ended June 30, 2016, as compared to $10.6 million for the same period in 2015, an increase of $1.6 million, or 15.6%. Operating loss for the three months ended June 30, 2016 was $6.8 million, compared to $56,000 for the same period in 2015. Net loss for the three months ended June 30, 2016 was $5.57 million, or a net loss applicable to common stockholders of $7.0 million after accretion of convertible preferred stock of $1.45 million, a loss per share applicable to common stockholders of $0.45, compared to a net loss of approximately $395,000, or a net loss applicable to common stockholders of $1.6 million after accretion of convertible preferred stock of $1.25 million, a loss per share applicable to common stockholders of $0.12 for the three months ended June 30, 2015. The increase in net loss was primarily related to the Merrick settlement loss of $6.1 million and the increase in SG&A. LBITDA was $6,008,000 compared to EBITDA of $852,000 a year ago. Adjusted EBITDA was $579,000 compared to $1,143,000 a year ago. Loss before income taxes was $7,093,000 compared to $352,000 a year ago. Revenues were $23.9 million for the six months ended June 30, 2016, as compared to $21.4 million for the same period in 2015, an increase of $2.45 million, or 11.4%. Revenues for Payment Processing Segment increased $1.6 million, or 11.2%, for the six months ended June 30, 2016 compared to the same period in 2015. Operating loss for the six months ended June 30, 2016 was $7.3 million, compared to operating income of $62,000 for the same period in 2015. Operating loss is after subtracting depreciation and amortization expense of $1.9 million and $1.8 million for the six months ended June 30, 2016 and 2015, respectively. The decrease in operating income was attributable to the Merrick settlement loss of $6.1 million, an increase in SG&A expenses of $1.0 million, and a decrease in gross profit of $285,000, partially offset by a $170,000 favorable change in the fair value of contingent consideration liability. Net loss for the six months ended June 30, 2016 was $6.57 million, or a net loss applicable to common stockholders of $9.44 million after accretion of convertible preferred stock of $2.87 million, a loss per share applicable to common stockholders of $0.6, compared to a net loss of approximately $615,000, or a net loss applicable to common stockholders of $3.1 million after accretion of convertible preferred stock of $2.5 million, a loss per share applicable to common stockholders of $0.22 for the six months ended June 30, 2015. The increase in net loss was primarily related to the Merrick settlement loss of $6.1 million and the increase in SG&A. LBITDA was $5,572,000 compared to EBITDA of $1,858,000 a year ago. Adjusted EBITDA was $1,658,000 compared to $2,457,000 a year ago. Loss before income taxes was $8,045,000 compared to $514,000 a year ago.

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